Genco Shipping & Trading (GNK) Proxy filing summary

Executive summary

• Achieved total shareholder returns of 213% over five years, outperforming both the S&P 500 and a key competitor.

• Executed a value strategy focused on low leverage, high dividends, and fleet growth, distributing $292 million in dividends and investing $492 million in modern vessels since April 2021.

• Ended Q4 2025 with multi-year highs in EBITDA, TCE, and a $0.50 dividend, marking the 26th consecutive quarterly dividend.

• Expectation of higher dividends in Q1 2026 compared to Q1 2025, supported by positive market dynamics and firm fixtures.

• Forward-looking statements highlight ongoing commitment to shareholder value and caution regarding future uncertainties.

Voting matters and shareholder proposals

• Shareholders are advised to disregard proxy materials from Diana Shipping, which is seeking to replace the entire board.

• The upcoming 2026 Annual Meeting will address the proxy contest and board control, with further details to be provided in official proxy materials.

Board of directors and corporate governance

• Board is diverse and independent, with half of directors being women and expertise across shipping, finance, and M&A.

• No related party transactions, distinguishing governance practices from competitors.

• Board regularly evaluates strategic opportunities and rejected Diana Shipping’s $23.50/share proposal as inadequate.

• Board is open to good faith engagement on proposals that appropriately value the company.